Axis Bank Surpasses Kotak Mahindra Bank to Become Third-Largest Private Lender

• Axis Bank's market capitalization reached ₹4.10 lakh crore, marginally exceeding Kotak Mahindra Bank.
• The surge followed strong quarterly earnings, signaling improved growth visibility and asset quality.
• Axis Bank shares rallied 5% on Tuesday, January 27, marking its biggest single-day gain since October 2024.
• Brokerages like Citi and Nuvama upgraded Axis Bank, citing better loan growth and asset quality.
• Kotak Mahindra Bank's stock declined due to weaker-than-expected Q3 earnings and higher operating expenses.

Why It Matters: Axis Bank has overtaken Kotak Mahindra Bank as India's third-largest private lender by market cap.